Toyota and Daimen-Chrysler Collaborating with Suppliers to Develop New Automobile

question 40

True/False

Toyota and Daimen-Chrysler collaborating with suppliers to develop new automobile platforms is an example of outsourcing.

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Definitions:

Input

The resources used in the production process, such as labor, raw materials, and capital.

Returns To Scale

The change in output resulting from a proportional change in all inputs (factors of production) in the production process.

Production Function

A mathematical model that describes the relationship between inputs used in production and the resulting output of goods or services.

Input

Resources or factors used in the production process of goods and services, such as labor, capital, and materials.